10 Things People Say That Keep Them in Debt

To get debt free, think differently!

Debt is just a math problem, if you change the equation, you can change the result. To change the equation, you need to modify how you think about money. Take a look at these common beliefs that keep some people in debt.

1. Debt is normal. everyone has it!

This is total nonsense. The credit card companies want you to believe this because it’s profitable for them, but it’s totally untrue, the majority of North Americans do not have debt. They use their credit cards, collect their points, and fly around the word for free.

2. You only live once – YOLO.

Being a borrower keeps you a slave to the lender, the only way to create options in your life is to eliminate debt, and accumulate wealth. THAT is the true meaning of YOLO

3. I don’t want my kids to miss out, so I spend on them rather then paying it down

You are stealing from your families wealth when you carry a credit card balance and pay 19.99% interest every month. Children are resilient and need a lot less things then you think. They won’t melt into a puddle of goo if they don’t get the newest iPhone.

4. My 0% introductory interest rate is free, so things are okay.

Great, so what happens when the 6 month introductory period is over, and your hopes of paying down the balance disappear also? What’s your plan then Einstein? Shift it over to another 0% introductory offer?

5. I can’t put my life on hold to just pay off debt

Uhm, yes you can, life is full of sacrifices. Did you know ending a expensive Starbucks habit, and replacing it with home brew in a tumbler can save you almost $800 a year?

6. I needed to finance a new car, old ones break down all the time

No they don’t, if you buy a used car that’s about 5-7 years old it has most of it’s depreciation behind it, and are often still very reliable. .

7. All my friends are taking this holiday, I’ll just put in on credit.

Really? Are you going to walk off a cliff too if your friends do that? Here’s a novel idea, you could just not join them until you can pay for the vacation with cash.

8. I’m making my minimum payments, that will pay it off eventually

It can take decades, or even a lifetime of minimum payments. That’s exactly where the credit card companies want you, why do you think they have that little box with the minimum payment amount?

9. I use my credit cards and pay minimums to keep my credit rating good

News flash, if you have $20,000 of credit card debt, you have a liability. Carrying a balance does nothing to improve your credit, or add value to your life. Don’t believe me? Post and ad on Kijiji today and offer to sell your $20,000 of credit card debt. Let me know how many offers you get for it.

10. Everything will just work itself out

Things don’t just work themselves out, you need to change your behaviour to change your results. If you have debt, your belief system needs a reboot

We tell ourselves lies about our personal finances all the time, and those lies become reality for us. After 25 years in the credit and collection space, I’ve heard every excuse in the book. What do you think of these statements?

We were sceptical at first, but Total Debt Freedom soon delivered as promised. Four out of five debts are now gone and we feel like we have been making real progress to our debt freedom date and given some real solid advice.

Comments

comments

Al & JulieLondon, ON

After being absent for years, a smile has finally returned to our faces. Thank-you, you are so wonderful. We are so pleased that we are debt free and can resume our life again.

Comments

comments

Jennifer & SeanOttawa, ON

Thanks for your hard work, it only took me 4 weeks to be debt free and the results were incredible. The creditors stopped calling almost immediately and I saved over $54,000. I sleep much better at night now.

Comments

comments

DougToronto, On

It feels great knowing that I can finally go to the mailbox and actually enjoy picking up the mail not having to worry about threatening letters. I can even start answering my phone again knowing it won’t be someone on the other end asking me for money. I will always recommend TDF to anyone who is going through financial struggles.

Total Debt Freedom was founded in 2004 and is fully licensed and bonded. We are a next-generation debt relief company, with the goal of being recognized in Canada as a top provider of consumer credit card debt relief.

Individual results will vary. Total Debt Freedom Inc. does not assume or pay any debt, nor does it provide legal advice or offer credit repair. If you need legal advice, you must consult with a licensed attorney. Individual results are highly dependant on successful completion of program and your ability to save funds. Settlement estimates of 40 - 60% are examples of past performance and are not intended to be a guarantee of future settlement results. Results will vary based on individual circumstances. Please read and understand all contract terms prior to enrolment.